GAM Holding AG trimmed its stake in shares of Wipro Limited (NYSE:WIT) by 20.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 216,104 shares of the information technology services provider’s stock after selling 56,200 shares during the period. GAM Holding AG’s holdings in Wipro were worth $1,035,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of WIT. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Wipro by 165.9% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 26,605 shares of the information technology services provider’s stock worth $127,000 after acquiring an additional 16,600 shares during the period. Jane Street Group LLC acquired a new stake in shares of Wipro during the first quarter worth $129,000. Royal Bank of Canada raised its holdings in shares of Wipro by 7,144.0% during the first quarter. Royal Bank of Canada now owns 26,513 shares of the information technology services provider’s stock worth $137,000 after acquiring an additional 26,147 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Wipro during the first quarter worth $146,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Wipro during the first quarter worth $150,000. Institutional investors and hedge funds own 2.37% of the company’s stock.
Shares of WIT stock opened at $5.12 on Friday. The company has a current ratio of 2.53, a quick ratio of 2.51 and a debt-to-equity ratio of 0.09. Wipro Limited has a 1 year low of $4.50 and a 1 year high of $6.04. The firm has a market capitalization of $23.23 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 2.61 and a beta of 0.58.
Wipro (NYSE:WIT) last issued its quarterly earnings results on Friday, July 20th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. Wipro had a net margin of 14.66% and a return on equity of 15.89%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.10 billion. research analysts expect that Wipro Limited will post 0.28 EPS for the current year.
A number of equities research analysts recently commented on WIT shares. TheStreet lowered shares of Wipro from a “b-” rating to a “c+” rating in a report on Friday, May 11th. Zacks Investment Research upgraded shares of Wipro from a “sell” rating to a “hold” rating in a research note on Tuesday, June 19th. Jefferies Financial Group assumed coverage on shares of Wipro in a research note on Wednesday, June 20th. They issued an “underperform” rating on the stock. Nomura upgraded shares of Wipro from a “reduce” rating to a “neutral” rating in a research note on Tuesday, June 26th. Finally, ValuEngine lowered shares of Wipro from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Four analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.00.
Wipro Limited operates as an information technology (IT), consulting, and business process services (BPS) company worldwide. The company's IT Services segment offers a range of IT and IT-enabled services, including digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure services, analytics services, BPS, research and development services, and hardware and software design services to various enterprises.
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